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Austin Mass Timber Offices Subject of Updated Financing Package
A renowned Austin office building has closed on a revised financial arrangement. Commercial Edge reports that Hines has extended and amended a $40.6 million financing package on T3 Eastside, a 102,200-square-foot Class A office building.
The initial financing, originated by Zions Bank in 2022, included a senior loan and a mezzanine note set to mature in February. Following the amendment, the debt now includes only the unpaid senior loan, in the amount of $33.9 million, due to mature in 2026.
Hines broke ground on T3 Eastside, its first mass timber office project, in 2022. The property is at 1200 E. Fourth St. in Austin’s Eastside neighborhood.
Completed in 2023, the three-story building features 15 residential units to go along with the offices. Amenities include a fitness center, a yoga studio, locker rooms and showers, a tenant lounge, a rooftop patio, a conference room, bike storage and 233 vehicle parking spots.
- ◦Financing
